Pizza Hut’s Russian franchise bought by local operator

Tue Jun 07 2022
Austin Collins (551 articles)
Pizza Hut’s Russian franchise bought by local operator

Pizza Hut’s Russian franchise has been bought by Noi-M for 300 million roubles ($4.92 million), Russian business daily Kommersant reported on Tuesday.

Noi-M is linked to Russian restaurant group Rosinter, which operates the Russian franchises of Costa Coffee and T.G.I. Friday’s.

Pizza Hut’s 50 Russian stores are to be rebranded, though the new owners have not yet decided on a name.

Franchiser Amrest sold the brand’s Russia business after Pizza Hut owner Yum! Brands announced in March that it was pausing operations in Russia and transferring restaurants to local operators after Russia deployed troops to Ukraine.

Tags Russia
Austin Collins

Austin Collins

Austin Collins is our Europe, Asia, & Middle East Correspondent. He covers news related to Stock Market. In past he has worked for many prestigious news & media organizations. He is based in Dubai